US stocks surge, Brent oil's price drops below $95 per barrel
NEW YORK — U.S. stocks are soaring Wednesday after President Donald Trump’s party lost its sole control of Washington in the midterm elections. Stocks generally do well in the months following any midterm U.S. election, regardless of who wins, and the S&P 500 jumped 1.8 percent. The Dow Jones Industrial Average was up 1,524 points, or 2.9 percent, as of noon Eastern time, and the Nasdaq composite…
U.S. stocks experienced a significant surge on Wednesday as President Donald Trump's party lost its sole control of Washington in the midterm elections. The S&P 500 jumped by 1.8%, the Dow Jones Industrial Average increased by 1,524 points or 2.9%, and the Nasdaq composite rose by 2.1%, according to market reports. Solar-power companies, dollar stores, and hospital owners were among the top-performing stocks, helping to drive the market upward amidst the political upheaval.
The price of a barrel of Brent crude oil dropped below $100 for the first time in nearly a month, which may have contributed to the positive market sentiment. However, investors are cautious about potential risks ahead, particularly for Trump's social-media company, the artificial-intelligence industry, and businesses owned by Elon Musk, who heavily supported Republican candidates.
Vice President JD Vance attributed the Republican losses in the midterm elections to the ongoing war with Iran, which had led to a spike in oil prices. Wall Street strategists had been cautioning investors not to get overly optimistic following the election results.
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- US stocks surge, Brent oil's price drops below $95 per barrel koreatimes.co.kr
